General Motors is alive, as is Obama’s presidency
America faces a “fiscal nightmare” of tax rises and spending cuts, unless Republicans in the House of Representatives are willing to compromise.
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America faces a “fiscal nightmare” of tax rises and spending cuts, unless Republicans in the House of Representatives are willing to compromise.
He has been re-elected president, but Barack Obama now has another big challenge: the so-called “fiscal cliff”. Channel 4 News looks at what lies ahead.
Chancellor George Osborne describes a move by RBS to exit a state-backed insurance scheme as a “step” towards returning the bank to the private sector.
As the Bank of England’s governor tells the government it can ease off the inflation target, Economics Editor Faisal Islan asks whether it’s the right direction to go.
The fate of British bankers is in the hands of 10 people tasked with reforming a culture of recklessness and crime. Meet the banking standards commission, who will tame the masters of the universe.
Stock markets plunged and the cost of borrowing in Spain and Italy went up as the European Central Bank President Mario Draghi disappointed markets with a non-committal press conference.
The committee investigating the Libor rate-fixing scandal questions Jerry del Missier, Barclays’ ex-chief operating officer, who reportedly earned £40m a year when the bank was rigging interest rates.
The US pressed the Bank of England to improve the Libor system before Lehman Bros collapsed in 2008 amid reports that Barclays and other global banks were rate rigging, newly released e-mails show.
“The BBA professed to be “shocked” at the report into wrongdoing at Barclays today, but the long history of its involvement in this scandal makes that difficult to believe.”
Bob Diamond breaks his silence in an open letter to the Treasury select committee chairman, denying that senior staff were involved in fixing the bank’s rates. Read his letter in full.
The FTSE 100 index opens 44 points down after Moody’s cuts the credit ratings of 16 Spanish lenders, including the UK arm of Banco Santander.
From bible bashing to very public gaffes – it seems there’s not much that’s off limits in the US presidential race, as the Republicans outdo each other to prove they’re never wrong for long.
As six central banks take steps to bring down the cost of borrowing, a stockbroker tells Channel 4 News there is likely to be further pressure on eurozone leaders to resolve the debt crisis.
On Monday, David Cameron will announce a significant housing scheme including some sort of mortgage indemnity scheme for new build homes. There are many many questions about such a well-intentioned scheme designed to help rebuild the broken lower rungs of Britain’s housing market.
When David Cameron travels to Berlin to meet Chancellor Merkel, top of the agenda will be coaxing the European Central Bank in Frankfurt to act as last resort lender to the Eurozone’s troubled nations reports Economics Editor Faisal Islam.